China’s Universal Medical to sell RMB 1.1 billion five-year bonds

By Marisa Wong

Morgantown, W.Va., Nov. 18 – Universal Medical Financial & Technical Advisory Services Co. Ltd. wholly owned subsidiary China Universal Leasing Co., Ltd. is proposing to issue RMB 1.1 billion of five-year bonds on Tuesday.

The bonds will be sold at par. The interest rate will be determined through a bookbuilding process.

Shenwan Hongyuan Securities Underwriting Co., Ltd. and Citic Securities Co., Ltd. are the joint lead underwriters.

The bonds will have a coupon adjustment option and a put option at the end of the third year.

This will be the company’s third tranche under its RMB 2.2 billion of previously approved domestic corporate bonds. The company sold a first tranche totaling RMB 600 million in September and a second tranche of RMB 500 million in October.

Proceeds will be used to repay loans.

Universal is a health care provider based in Beijing. Its subsidiary offers leasing services for medical equipment and transportation.

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